Michelin (OTCMKTS:MGDDY) Short Interest Down 36.9% in April

Michelin (OTCMKTS:MGDDY) saw a significant decline in short interest in the month of April. As of April 30th, there was short interest totaling 53,897 shares, a decline of 36.9% from the April 15th total of 85,421 shares. Based on an average daily trading volume, of 289,347 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the company’s shares are sold short.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Citigroup reiterated a “buy” rating on shares of Michelin in a report on Thursday, January 29th. Barclays raised Michelin from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, April 14th. Finally, Zacks Research lowered Michelin from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Michelin Stock Performance

MGDDY stock traded up $0.61 on Monday, reaching $18.92. The company’s stock had a trading volume of 127,384 shares, compared to its average volume of 155,657. Michelin has a 52 week low of $14.82 and a 52 week high of $20.48. The firm has a fifty day moving average of $17.79 and a two-hundred day moving average of $17.59. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.22 and a current ratio of 1.90.

About Michelin

Michelin (OTCMKTS: MGDDY) is a French multinational tire manufacturer founded in 1889 and headquartered in Clermont-Ferrand, France. Over more than a century the company has grown into one of the world’s leading tiremakers, serving passenger car, truck, motorcycle, bicycle, agricultural, construction and aviation markets. Michelin has a global footprint with manufacturing facilities, research centers and commercial operations across multiple regions to supply OEMs, replacement markets and large commercial fleets.

The company’s core business is the design, manufacture and sale of tires and related products.